On Feb. 3, the Yearn.finance (YFI) governance community passed a proposal to mint 6,666 YFI tokens, a 22% increase in the token’s total supply.
- The decision to add more YFI tokens first saw discussion on Jan. 21, with the change receiving near unanimous approval
- YFI core developer banteg posted on the update on governance forums, saying that the proposal had passed with 83.46% of votes in favor of the change
- The new tokens will be budgeted towards funding Yearn.finance’s future, with 1/3rd going towards to key contributors as vesting retention packages and the remaining towards the Yearn.finance treasury
- Tentative fund allocations include contributor incentivization, liquidity mining programs, staking rewards and protocol mergers & talent acquisitions
- One of the YFI tokens distinctions is its low total supply -- the 30,000 cap has played a part in the astronomical value it has attained over the past 12 months, which is $32,161 at the time of publishing
- Yearn.finance is more of the DeFi market’s most prominent projects, and has partnered with many others, including SushiSwap, Cover Protocol and Akropolis